Individuals who are entrepreneurial and take risks to succeed. They seek out change and consider the possibility of losing their investment. Entrepreneurs are risk-takers. Entrepreneurs are people who prefer to be independent and start their own business.
One of my best friends is a small-businessman. He completed his training at Youth Development Center in poultry firming and fisheries. Then he set up his poultry business on a small piece of land that he leases from the local authority. He then borrowed 15 lack from a bank in the SME loan sector. He searches for cheap suppliers of chicken food and signs a contract with the ones who can supply him chicks at a lower price. He then found a source who would supply the chicks and eggs at a fair price. He arranges for medication for the chicken, which will prevent them from getting sick. He hires workers to take care of the company. He eventually pays off all of his bank debts and makes a large amount of net profits. He plans to expand his business into a new area. 2. How does course literature define entrepreneurship?
Venkataraman stated that “Entrepreneurship” is the field that involves the investigation of potential sources, the evaluation of those opportunities and the selection of people who exploit them. “Societal Entrepreneurship” is a concept that stresses the need for entrepreneurs in all areas and parts of modern society. This view holds that societal entrepreneurial is a broad concept that encompasses everything from the recognition of entrepreneurship in mundane and boring life to the capture of pioneering movements around the world and the clarification of large-scale descriptions about how structures change. This includes setting the agenda to encourage entrepreneurship efforts that are not detrimental to the creation of a sustainable society.
“Social Entrepreneurship has evolved into an inter-disciplinary exercise that combines the fields of sociology and psychology with business, organization development and social politics. On the one hand, this multiplicity presents a challenge to create a more coherent framework. Nicholas and Cho.
My understanding of entrepreneurship has been influenced by this research. It is how an entrepreneur plans, launches and runs his non-profit or profit business. Entrepreneurship is a method that has been around since human history. People have used it to make the world a better place. Entrepreneurship can be applied to any sector (social, business or environmental). This is where an entrepreneur can begin his innovative ideas with this group process. Entrepreneurship is a way to build society, create jobs, and sustain economic growth.
The entrepreneur has a unique view and understanding of society. Most entrepreneurs start their businesses with uncertain results. After a while, a successful entrepreneur can turn it into predictable results. Entrepreneurs are willing to take risks, work hard, and are more motivated than ever. Prior to researching, I thought that an entrepreneur only worked in the business market. It is now clear that an entrepreneur does not work only in the business sector. Entrepreneurs are people who have an incredible idea and make the world a better place.
Conclusion
Entrepreneurship refers to the act of innovating and changing the world. A entrepreneur is someone or group of people who are chosen through this process to make a difference. It encompasses the social aspects and the will to change them. It’s the combination of existing methods with innovative approaches to change.